Senate Majority Leader Opeyemi Bamidele has stated that individuals benefiting from Nigeria’s petrol subsidy system made governance challenging for President Bola Tinubu during the initial 18 months of his administration. Bamidele emphasized that these beneficiaries, rather than ordinary Nigerians, were adversely affected by the subsidy removal, leading them to undermine the government’s efforts.
He highlighted that the 9th National Assembly had allocated funds for the fuel subsidy only until May 2023, indicating a prior consensus on its removal. Bamidele noted that continuing the subsidy would have strained the nation’s finances, potentially leading to economic instability. He also mentioned that the funds saved from the subsidy removal are now being directed to sub-national governments to promote development and strengthen the domestic economy.
Furthermore, Bamidele expressed optimism that the 2025 Appropriation Act would address various socio-economic challenges at both national and sub-national levels. He commended the administration’s commitment to maintaining public sector employment despite economic pressures and acknowledged improvements in security, which are encouraging displaced individuals and farmers to return to their communities and agricultural activities.
